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yalla-yalla-habibi
Jan 3, 2021 5:05 PM

ETH may be starting its catch up run Long

Bitcoin / U.S. dollarBitstamp

Description

Ethereum usually follows the movements of Bitcoin. However, in the last 18 days, Bitcoin has had a massive run while Ethereum has stayed proportionally behind. BTC has gone 75% over is previous ATH while ETH remains 45% under its ATH. Suppose we are about to see a catch up run like in 2017. The gold denominated resistances are 20grs and 33grs. At current prices that is $1,220 and $2,013 respectively.

A run for the 2,000 dollars area could take the ETHBTC pair above the channel it's been for two years.

The idea of using resistances denominated in dollars-per-grams-of-gold is to account for the depreciation of the dollar.

Trade closed: target reached

Trade closed: target reached

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